fall of Ukrainian economy

By the end of 2014, the country’s foreign debt has reached $ 30 billion. This is a quarter of Ukraine’s GDP. Ukrainian Prime Minister Arseny Yatsenyuk reported that in 2015 Kiev must pay off 11 billion dollars of its debt. At the same time, foreign exchange reserves of Kiev do not exceed $ 8 billion.

This year, Kiev expects to receive $ 10.8 billion from the International Monetary Fund (IMF). The Minister of Finance of Ukraine Natalia Yaresko reported that it is 60 percent of the total assistance from the Fund.

On February 10, The World Bank has allocated to Ukraine 378.4 million dollars for the development of energy networks. Previously, the organization has already provided $ 200 million for the same purpose. The Bank is also planning to provide Kiev with 2 billion dollars to protect the underprivileged citizens, and to conduct structural reforms in the economy.

In early December of 2014, the EU gave Ukraine 500 million euros as part of the second macro-financial assistance program (MFA2). This loan became the second and the final tranche of macro-financial support for Kiev in 2014. On May 20, Ukraine received 100 million euros, on June 17 – 500 million, and on November 12 – 260 million. The next tranche is expected in spring of 2015. The European Union is planning to allocate to Ukraine additional 250 million euros. The total amount of support equals 1.61 billion euros.

On April 30, 2014, the IMF approved the first stabilization program stand by. As part of the program, Kiev should receive $ 17 billion over two years. The first tranche of the program – 3.16 billion dollars – was received by Ukraine in early May of 2014, the second – 1.39 billion dollars – in September.

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